LAS VEGAS, Sept. 28, 2004 (PRIMEZONE) -- Sports Wheels Inc., (Pink Sheets:SSWH), a premiere wheel technology company, today announced the decision by the Company's Board of Directors to retain a prominent independent auditing firm to gain fully-reporting status with the Securities and Exchange Commission. This action is being undertaken in anticipation of a broader initiative to apply for Nasdaq's Over-the-Counter Bulletin Board market, increase Sports Wheels' public profile and grow market share for the Company's product line.
The Company has identified an auditing firm that is registered with the Public Company Accounting Oversight Board (PCAOB), as is required for all accounting firms performing audits of public companies by the Sarbanes-Oxley Act of 2002.
"We are working to retain a well-regarded firm that will provide the Company with a high level of service as we initiate our effort to apply for a listing on the Over-the-Counter Bulletin Board market. This is expected to be just the first step in our broader plan to maximize the potential of Sports Wheels, Inc. and bring additional value to our shareholders," stated Paul Stringer, President of Sports Wheels Inc.
About the Company
Sports Wheels Inc. (www.esportswheels.com) is a leading provider of decorative wheels, sports memorabilia and other collectable artwork for the automobile industry and car owners.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and section 21B of the Securities Exchange Act of 1934. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections objectives, goals assumptions or future events of performance are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which would cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or statements indicating certain actions "may", "could" or "might" occur.